bitcoin bubble getting out of control...surging non stop. up over $600 now

[S2007S]

Anyone take notice of bitcoins today.....

Huge drop.

 

[stevegee58]

Quote from S2007S:

Anyone take notice of bitcoins today.....

Huge rise.

Fixed that for you.

 

[Lawrence Chan]

Quote from ktm:

It's not real and has no backing of the Fed or any other entity with authority to make it so. The only way any of this can be traded for actual, real cash is if there is a human being out there willing to give you their cash for the bitcoin. For now, that continues...but one day that carousel will stop.

The more people that the hype-sters can get frothed up by this hysteria, the higher the price and the more they can make. At least the tulips you traded your house for looked pretty in the garden for a few years.

Fed? Authority? LOL

A painting by van Gogh is not real (just a piece of cloth with paint) and has no backing of the Fed or any other entity ...

As long as people are willing to transact, that is all that matters.

Tulips cannot be compared with Bitcoin because they have limited life time.

Beanie babies probably closer to Bitcoin yet they have infinite supply.

The truly comparable physical thing is the Snoopy set sold by McDonald back in 1999. At the height of the euphoria you see real wild prices on those tiny snoopy figurines. After that, the price return to normal collectible price range based on availability and completeness.

Still, the Snoopy set does not have the abstract function as a generic store of value. That puts Bitcoin in a very unique position.

 

[stock777]

Quote from Hoi:

Man..oh..man...

Reading 9 pages of this thread, it's so clear that the "negative posters" don't understand what Bitcoin actually is.
...and this is the only reason why its price is still not 10.000 dollars or more...(because when every one would understand it, they should value it on its merits).

Bitcoin is NOT JUST a currency, it's a Protocol (like HTTP) with many innovative and high valued opportunities (we are just in the pre-Internet-time of 1995, not yet grasping what the future will bring, like innovations as Google, Facebook, Youtube...etc...). Bitcoin will change the Financial world (it's a disruptive technology), like the Internet did. And will bring huge fortunes for those early adopters (it's just starting right now).

To all, that don't have any idea what Bitcoin actually is and can bring, you SHOULD watch all the 101-blackboard-videos. There are 12 video's now and each few days new ones will keep you informed:

http://www.youtube.com/watch?v=_4QFErOdTag&list=PLzctEq7iZD-7-DgJM604zsndMapn9ff6q&index=1

Don't miss this Bitcoin opportunity...you might regret it later.

Thank you. Now I get it. I'm going all in today, at any price, and borrowing what I can to leverage up .

Thanks again for your amazing insight

 

[ElCubano]

Quote from Lawrence Chan:

Fed? Authority? LOL

A painting by van Gogh is not real (just a piece of cloth with paint) and has no backing of the Fed or any other entity ...

As long as people are willing to transact, that is all that matters.

Tulips cannot be compared with Bitcoin because they have limited life time.

Beanie babies probably closer to Bitcoin yet they have infinite supply.

The truly comparable physical thing is the Snoopy set sold by McDonald back in 1999. At the height of the euphoria you see real wild prices on those tiny snoopy figurines. After that, the price return to normal collectible price range based on availability and completeness.

Still, the Snoopy set does not have the abstract function as a generic store of value. That puts Bitcoin in a very unique position.

Im not into art but I don't think a van gogh drops in value by 50% in a day. Maybe if it had a ticker we would see these types of moves..who knows..

 

[trade2live]

Quote from ktm:

The mania increases.

Like others before it, the inherent flaws and terminal hype will all seem so obvious in hindsight after the end.

The "articles" and media postings all contain quotes and data from bitcoin supporters and those promulgating and holding the stuff. The vast majority of those involved are simply speculators wanting a quick buck. Some will make fortunes...many others will lose great sums.

It's not real and has no backing of the Fed or any other entity with authority to make it so. The only way any of this can be traded for actual, real cash is if there is a human being out there willing to give you their cash for the bitcoin. For now, that continues...but one day that carousel will stop.

The more people that the hype-sters can get frothed up by this hysteria, the higher the price and the more they can make. At least the tulips you traded your house for looked pretty in the garden for a few years.

exactly.
btw Looks like it's topping out when stocks run out of steam.
Some Bitcoin hypsters would almost deserve to be shot.
I never understood the concept of hyping your investments, if you truly want to be right about your investment ideas, you don't need to hype them.

 

[stock777]

Quote from Lawrence Chan:

Fed? Authority? LOL

A painting by van Gogh is not real (just a piece of cloth with paint) and has no backing of the Fed or any other entity ...

Sad, but this comment will be here forever, and you won't be able to say you were kidding.

"I can't believe I revealed my stupidity"

 

[Lawrence Chan]

Quote from ElCubano:

Im not into art but I don't think a van gogh drops in value by 50% in a day. Maybe if it had a ticker we would see these types of moves..who knows..

To some people, even those they have a lot of money, they would not even pay a dime for paintings. They just think these paintings do not worth it. To these people, the famous paintings are "not real" - the paint on a piece cloth is just paint on a piece of cloth, nothing more.

For art collectors, however, there is this market where they would price the items in their special ways that normal people cannot understand.

That's why I mentioned beanie babies and snoopy set - the availability matters so do the participation size.

The beanie babies craze crashed after several significant swings. Yet after the crash, they settle at collectible price levels for the rare ones. Same thing happened to other cheap collectible items like snoopy set from McDonald.

 

[Lawrence Chan]

Quote from stock777:

Sad, but this comment will be here forever, and you won't be able to say you were kidding.

Read above comment.

A market exists only if the participants are willing to transact.

Art collections are one of those oddities in the high societies.

 

[stock777]

Quote from Lawrence Chan:

Read above comment.

A market exists only if the participants are willing to transact.

Art collections are one of those oddities in the high societies.

You mock the great masters, and come here to pump bitcoins.

lol, right.